No tax break for Archer Daniels Midland or any other Illinois company that is currently profitable.
Why is this important?
Archer Daniels Midland, a highly profitable company, is demanding over $20 million in tax breaks to keep its headquarters in Illinois.
With net profits of $1.7 billion dollars in 2012, on which they paid state taxes of less than 1% instead of the statutory requirement of 9 1/2%, ADM does not need more tax breaks. Their spokesperson admitted as much when it was said that the only reason they are requesting a tax break is because Illinois set a "precedent" by giving other profitable companies undeserved tax breaks.
With Illinois financial situation in a state of crisis, it is time to break with that precedent and say "no" to tax breaks for profitable companies.
